Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. In many cases, that product may still be a fixed-rate mortgage. But for some borrowers, a less traditional loan type could make the most financial sense.

Loans 421

Loans Fixed-rate mortgage Lending Loan Officer 421

Marco Santarelli

AUGUST 3, 2024

For many, the allure of a fixed-rate mortgage lies in its predictability – consistent monthly payments and the comfort of knowing your interest rate won't fluctuate. However, life throws curveballs, and sometimes circumstances may force you to reconsider your mortgage strategy.

Fixed-rate mortgage 52

Fixed-rate mortgage Mortgages Equity Renovation 52

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 459

Loans Mortgages Banks Fixed-rate mortgage 459

Housing Wire

SEPTEMBER 25, 2024

Purchase loan applications saw more modest increases of 0.4% Mortgage rate declines appear to be having a positive impact on borrower demand as MBA data showed that the 30-year fixed rate declined for an eighth straight week, reaching 6.13%. Rising home prices are reflected in larger loan sizes.

FHA loan 448

FHA loan Mortgages VA loan Fixed-rate mortgage 448

Housing Wire

JANUARY 19, 2022

Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement. Regarding purchase applications, the average loan size set a record at $418,500. The refinance share of mortgage activity decreased to 60.3% The post Mortgage apps up 2.3%

Loans 418

Loans Mortgages VA loan Fixed-rate mortgage 418

Housing Wire

MARCH 3, 2021

“Purchase applications increased, with a rise in government applications – likely first-time buyers – pulling down the average loan size for the first time in six weeks.”. The FHA share of total mortgage applications increased to 12.1% The VA share of total mortgage applications decreased to 12.3% from 11.2% from 11.9%

Fixed-rate mortgage 545

Fixed-rate mortgage Mortgages Loans Industrial 545

Housing Wire

SEPTEMBER 28, 2023

Just before noon on Thursday, they were Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.31% as of Sept. By contrast, the 30-year fixed-rate mortgage was at 6.70% a year ago at this time.

Fixed-rate mortgage 487

Fixed-rate mortgage Mortgages Loans Investor 487

Housing Wire

JANUARY 13, 2021

“Even with the rise in mortgage rates, refinancing did not slow to begin the year, with the index hitting its highest level since last March,” said Kan. “Both conventional and government refinance applications increased, with applications for government loans having their strongest week since June 2012.”. from 10.1%

Fixed-rate mortgage 514

Fixed-rate mortgage Mortgages Loans Industrial 514

Housing Wire

JUNE 2, 2021

The average contract interest rate for 15-year fixed-rate mortgages increased to 2.56% from 2.53% The average contract interest rate for 5/1 ARMs saw another week of dramatic fluctuation, increasing to 2.54% from 2.81%. The post Fewer people are submitting mortgage applications appeared first on HousingWire.

Fixed-rate mortgage 543

Fixed-rate mortgage Mortgages New Construction Loans 543

Housing Wire

DECEMBER 28, 2023

As we prepare to bid adieu to 2023, mortgage rates this week again stayed below seven percent. The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, a slight decrease from the 6.67% rate recorded on Dec. 21 according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Fixed-rate mortgage 505

Fixed-rate mortgage Mortgages Finance Equity 505

Housing Wire

JUNE 28, 2022

Roughly a year ago, the Austin-based fintech began to sell its loans to First Guaranty Mortgage Corporation (FGMC), a lender and investor that specializes in non-qualified mortgage loans and is controlled by behemoth investment management firm Pacific Investment Management Company (PIMCO). . Treasury rates. .

Loans 397

Loans Due diligence Fixed-rate mortgage Lending 397

Housing Wire

JULY 7, 2021

Those who are filling out purchase mortgage applications are requesting bigger loan amounts, but there are fewer applicants. “Swift home-price growth across much of the country, driven by insufficient housing supply, is weighing on the purchase market and is pushing average loan amounts higher,” Kan said.

Fixed-rate mortgage 482

Fixed-rate mortgage Mortgages Loans Industrial 482

Housing Wire

AUGUST 4, 2021

for 80% LTV loans. for 80% LTV loans. for 80% LTV loans. The post 30-year rate drops below 3% for first time since February appeared first on HousingWire.

Fixed-rate mortgage 497

Fixed-rate mortgage Mortgages Loans Marketing 497

Housing Wire

OCTOBER 6, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage decreased four basis points last week to 6.66%, after jumping 40 basis points in the previous week, reflecting volatility due to the ongoing economic uncertainty. For jumbo loans, it went from 6.01% to 6.14% in the same period.

Loans 370

Loans Mortgages Marketing Fixed-rate mortgage 370

Housing Wire

JULY 28, 2021

Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity. “With over 95% of refinance applications for fixed rate mortgages, borrowers are looking to secure a lower rate for the life of their loan,” Kan said Wednesday.

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages Loans Finance 397

Housing Wire

OCTOBER 5, 2023

Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct. By contrast, the 30-year fixed-rate mortgage was at 6.66% a year ago at this time.

Fixed-rate mortgage 476

Fixed-rate mortgage Mortgages MLS Loans 476

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Construction Loans 493

Housing Wire

JULY 21, 2021

This, in turn, led to mixed changes in mortgage rates. “Refinance activity fell over the week, but because rates have stayed relatively low, the pace of applications was close to its highest level since early May 2021.”. The post Mortgage applications fall amid market jitters appeared first on HousingWire.

Fixed-rate mortgage 476

Fixed-rate mortgage Mortgages Marketing Loans 476

Housing Wire

DECEMBER 16, 2020

Here is a more detailed breakdown of this week’s mortgage application data: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) decreased to 2.85% from 2.9% – a survey low The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than (..)

Fixed-rate mortgage 490

Fixed-rate mortgage Mortgages Loans Industrial 490

Housing Wire

SEPTEMBER 20, 2023

15, mortgage applications rose 5.4% from the prior week , according to data from the Mortgage Bankers Association. Last week, purchase applications increased for both conventional and FHA loans but remained 26% lower than the same week a year ago. The 30-year fixed mortgage rate increased to 7.31% last week, according to Kan.

Fixed-rate mortgage 470

Fixed-rate mortgage Mortgages FHA loan Loans 470

Housing Wire

SEPTEMBER 6, 2023

At HousingWire’s Mortgage Rates Center , Optimal Blue had 30-year fixed-rate mortgages at 7.15% on Tuesday. At Mortgage News Daily , 30-year fixed-rate mortgage rates were at 7.21%. The Federal Housing Administration loans’ share increased to 13.7% from 13.2% a week prior.

Fixed-rate mortgage 448

Fixed-rate mortgage Mortgages Loans Marketing 448

Housing Wire

JANUARY 4, 2024

In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 4, a slight increase from the 6.61% rate recorded on Dec. 28 , according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Fixed-rate mortgage 466

Fixed-rate mortgage Mortgages MLS Loans 466

Housing Wire

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The refinance share of mortgage activity decreased to 31.1% The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased from 7.05% to 7.07%, with points increasing from 0.63

VA loan 445

VA loan Mortgages Fixed-rate mortgage Loans 445

Housing Wire

MARCH 10, 2021

“Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said. “Signs of faster economic growth, an improving job market and increased vaccine distribution are pushing rates higher.

Fixed-rate mortgage 448

Fixed-rate mortgage Mortgages Loans Industrial 448

Housing Wire

JULY 13, 2022

June was a rough month for jumbo-mortgage securitizations, with only two private-label offerings brought to market valued at roughly $821 million. The two jumbo-loan deals that did make it out of the gate last month were issued by Rocket Mortgage and J.P. Morgan Chase via the Rocket Mortgage Trust and J.P.

Loans 412

Loans Fixed-rate mortgage Mortgages Residential 412

Housing Wire

JUNE 9, 2021

“Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 Compared to last year, fewer people are applying for purchase mortgages, the MBA reported, as home prices continue to rise and prospective buyers avoid astronomical bidding wars.

Fixed-rate mortgage 476

Fixed-rate mortgage Mortgages Loans Industrial 476

Housing Wire

OCTOBER 12, 2023

Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year, fixed-rate mortgage averaged 7.57% as of Oct. By contrast, the 30-year, fixed-rate mortgage was at 6.92% a year ago at this time.

Fixed-rate mortgage 439

Fixed-rate mortgage Mortgages Loans Investor 439

Housing Wire

SEPTEMBER 13, 2023

Simultaneously, purchase applications increased over the week despite the increase in rates , buoyed by a 2% gain in conventional loans. At HousingWire’s Mortgage Rates Center , Optimal Blue had 30-year fixed-rate mortgages at 7.17% on Sunday. Department of Agriculture loans’ share fell to 0.4%

Fixed-rate mortgage 430

Fixed-rate mortgage Mortgages Loans Finance 430

Housing Wire

MARCH 24, 2023

According to the report, about 37% of the loan modifications completed in Q4 reduced borrowers’ monthly payments by at or over 20%. Rising rates led to a reduction in mortgage refinances during that quarter, declining to 111,251 in Q4 2022, down from 194,189 the previous quarter.

Fixed-rate mortgage 456

Fixed-rate mortgage VA loan FHA loan Loans 456

Housing Wire

NOVEMBER 2, 2023

However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, according to Freddie Mac ‘s Primary Mortgage Market Survey. The Federal Reserve again decided not to raise interest rates but have not ruled out a hike before year-end.

Fixed-rate mortgage 492

Fixed-rate mortgage Mortgages MLS Investor 492

Housing Wire

OCTOBER 14, 2020

That issue is further evidenced by an MBA report that showed purchase applications higher than $766,000 jumped anywhere from 49% to 74% between June and September, while the smallest loan tier of $150,000 or less increased no more than 3% in each of those months. The average contract interest rate for 5/1 ARMs fell to 2.63% from 2.8%.

Fixed-rate mortgage 468

Fixed-rate mortgage Mortgages Loans Industrial 468

Housing Wire

DECEMBER 6, 2023

Falling mortgage rates last week brought increased demand. Total home loan applications increased 2.8% 1 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). The 30-year fixed-rate mortgage averaged 7.17% last week. for the week ending Dec. the week prior.

VA loan 521

VA loan Mortgages FHA loan Fixed-rate mortgage 521

Housing Wire

JANUARY 24, 2024

There is still little incentive for homeowners to refinance with rates at these levels.” The MBA survey shows the average mortgage rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.78% last week, up from 6.75% the prior week.

Mortgages 497

Mortgages Fixed-rate mortgage Loans Residential 497

Housing Wire

OCTOBER 21, 2020

Despite the uptick in rates, refinance activity held steady, with FHA refinance applications posting a 17.6 percent increase, helping to offset declines in the other loan types,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased to 3.02% from 3%.

Fixed-rate mortgage 482

Fixed-rate mortgage Mortgages Loans Industrial 482

Housing Wire

OCTOBER 6, 2021

Joel Kan, MBA’s associate vice president of economic and industry forecasting, said that “higher rates are reducing borrowers’ incentive to refinance, as declines were seen across all loan types.” drop in conventional loans application. According to Kan, it was not enough to bring down the average loan balance of $410,000.

Fixed-rate mortgage 468

Fixed-rate mortgage Mortgages Loans Industrial 468

Housing Wire

NOVEMBER 4, 2020

“Mortgage rates continue to hover at record lows this fall. The 30-year fixed mortgage rate remained essentially unchanged at 3.01 percent last week, but rates for 15-year fixed-rate loans, FHA loans and jumbo loans all fell to new MBA survey lows.”. of total applications.

Fixed-rate mortgage 516

Fixed-rate mortgage Mortgages FHA loan Loans 516

Housing Wire

FEBRUARY 17, 2022

The average 30-year-fixed rate mortgage climbed to 3.92% for the week ending Feb. It’s the highest level since May 2019, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.81%. 17, up 23 basis points from the previous week.

Fixed-rate mortgage 448

Fixed-rate mortgage Mortgages Loans Industrial 448